Inventory Asset vs Finish Goods vs Work in Progress please explain or help me choose

Inventory Asset vs Finish Goods vs Work in Progress please explain or help me choose

New to this so please if you can help in any way I would really appreciate it. So here we go. I make and sell and item which is made out of bunch of other items. (Composite Item). Now one of the parts that the item is made from is also a composite item. If I create the composite item that is used to make the composite item that I sell do I choose "Inventory Asset" , "Finish Goods" or "Work in progress" under INVENTORY ACCOUNT. If you could explain what each means that will be great. 

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